Bloomberg News

NBG Not Planning to Sell Turkish Unit Finansbank, Sabah Reports

March 15, 2012

National Bank of Greece SA is not planning to sell its Turkish unit Finansbank AS (FINBN), Sabah reported, citing Finansbank deputy chairman Sinan Sahinbas.

NBG continues to invest in Finansbank to support the unit’s growth, Sahinbas said, according to the Istanbul-based newspaper. Finansbank completed a capital increase in January, raising the total to 2.44 billion liras ($1.4 billion) via 116.3 million liras of rights shares and 3.67 million liras of free shares, it said on Jan. 16.

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To contact the reporter on this story: Aydan Eksin in Istanbul at aeksin@bloomberg.net

To contact the editor responsible for this story: Benjamin Harvey at bharvey11@bloomberg.net


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